Palantir Paid Zero Federal Income Tax on Billions in Revenue and Taxpayer Funds
Despite earning $1.6 billion in net income and securing a $10 billion military contract, Palantir Technologies paid $0 in federal income taxes last year. This tax avoidance is attributed to current corporate tax policies, exacerbated by recent tax legislation, which allowed at least 88 other major profitable U.S. companies to also pay no federal income taxes. Palantir’s situation highlights how profitable corporations can leverage tax loopholes, rather than contributing to public funds, even when receiving substantial government contracts for projects like mass surveillance networks.
John Q. Hosedrinker